Lebanon’s banks to go on strike starting Monday

File photo: As cash runs short at Lebanon’s banks, so has the patience of depositors. Hit by restrictions on withdrawals, some are taking extreme steps, occupying branches and in one case taking an employee hostage, to squeeze what they can from their accounts.

BEIRUT- Lebanon’s banking association announced on Friday that banks would go on strike starting on Monday over what of the banking it said was a build-up of “populist, harmful stances” taken against the sector.

The statement said the group was taking action over the recent treatment of the sector, particularly the arrest of the head of Lebanon’s CreditBank this week.